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Belarus has raised public sector wages contrary to the instructions IMF

17 June 2011 09:15 (UTC +04:00)

Baku - APA-Economics. Belarusian authorities are indexed public sector wages by 26.6 percent, contrary to the requirements of the International Monetary Fund to freeze wages, APA reports citing PRAYM.

At the Ministry of Labour and Social Affairs of the country explained that the revenues of budget to be increased, since the price increase in May exceeded 5 percent for the month preceding their index in April 2011. Indexed, however, is only part of the salary in the range 343.26 thousand rubles ($ 1 - 4988 rubles). Monthly minimum wage for May 2011 will be indexed and will increase by 23.7 percent to 541.35 rubles.

Inflation in Belarus in May 2011 was 13.1 percent versus 4.5 percent in April 2011. In January-May 2011 consumer prices rose by 25.4 percent.

The IMF earlier advised to go to Minsk to float the ruble, to stop increasing public sector wages, higher interest rates and dramatically reduce lending to the economy of Belarus, which asks for a loan to fund next stabilizing the financial system.